Mythbusters: the AI edition

Our recent AI masterclass for CEOs and CFOs was one of the most popular webinars we’ve ever run. Despite all the hype, there is still a deep curiosity about AI and what it can do for a mid-sized business.

And because it can be so difficult to sort through the hype, we also discussed what AI can’t do. So what are the biggest myths about AI? Our experts provided answers, and unlike the TV show, we didn’t have to blow up anything.

• • • AI myth 1: It thinks like a human. AI is just really good at processing vast amounts of existing information and creating plausible new content from it. It doesn’t really understand what you’re asking it to do, and it doesn’t know the difference between right and wrong. Which is why it can ‘hallucinate’ – or create things that are like the truth but are actually untrue. So, always check the facts.
    • AI myth 2: It’s too difficult to work out the risks for data protection and information security. Whilst it’s good to be cautious, this isn’t true. There are protections to put in place, but it’s not a great engineering challenge – even in highly regulated sectors like finance or legal.
    • AI myth 3: It’s still too difficult and expensive. No again. One of our experts recently helped a manufacturing client reduce support calls by two-thirds with an interactive agent. Whereas once this would cost millions, it’s costing them £4k a month – with no setup fees!
    • AI myth 4: It’s not creative. It can be a fantastic tool for creativity. We’re seeing an engineering firm we work with come up with some really amazing designs that wouldn’t have been obvious to a human. Another client who makes novelty products is using AI to great effect. It’s all about AI + humans.

More questions about AI? Book an AI opportunity assessment. It’s our half-day workshop that provides a clear picture of your AI readiness and where you might implement it in your business. More info here.